Net income for the Hong Kong-listed unit of Las Vegas Sands
Corp. rose to $467 million from $306.7 million a year ago,
according to a statement from the parent company. Net revenue
also climbed, rising 48 percent to $1.97 billion for the three
months ended in December.

Sands China has joined rivals such as Galaxy Entertainment
Group Ltd. in expanding on Macau’s popular Cotai strip, a piece
of reclaimed land that’s an Asian equivalent of the Las Vegas
strip. Sands Cotai Central, the operator’s newest resort which
opened in April, has been adding more hotel rooms under the
Sheraton brand. Macau is the only city in China where casinos
are legal.

“This positive result mainly comes from strong ramp-up of
its Sands Cotai Central business,” Kenneth Fong, a Hong Kong-based analyst at JP Morgan said in a report ahead of the
earnings announcement.

Adjusted property earnings before interest, taxes,
depreciation and amortization, or Ebitda, increased 44 percent
to $619.9 million. That compares with a median estimate of
$579.5 million from a survey of six analysts conducted by
Bloomberg News.

Shares Gain

Sands China rose 2.2 percent to HK$39 in Hong Kong trading
yesterday, before the company published the earnings. The stock
has climbed 15 percent in 2013, outperforming the 5.1 percent
gain in the benchmark Hang Seng Index.

Sands plans to invest $2.8 billion to build its fifth
resort, to be called the Parisian, in Macau.

The Parisian will have a replica of the Eiffel Tower, 3,000
hotel rooms and other family-oriented facilities to attract
middle-class gamblers from China, who provide wider margins. The
project is scheduled to begin construction in the second
quarter, Sands China Chief Executive Officer Edward Tracy said
on Jan. 28.

Macau casino revenue rose 20 percent to a record of 28.2
billion patacas ($3.5 billion) last month, as Christmas
promotions drew more holiday-makers to the only city in China
where casino gambling is legal. Full-year casino revenue climbed
14 percent to 304 billion patacas, also a record.